Cam Newton Crying About Not Getting NFL Money and Having 8 Kids to Support

[Black Hans]

boo hoo

 

[lib123]

60-70% of NBA players go broke within 5 years of career, 80% of NFL players

It’s the same people doing the same stuff bruh. It’s just that football players have 52 man rosters + practice squad and most of those dudes make $300-$500k a year. I know regular people who have two remote IT jobs pulling in $350k alone and aren’t really that free (private school, house etc) and complain and if they lost their job they would be living in someone’s couch in 3 years

A 22 year old NFL player getting his salary cut to $0 after getting cut 5 years later and no talent or skillset to have a salary even that immediately makes over $100k is a hard reality

I don’t really feel calling these dudes stupid is the wave because we are dumping hundred of thousands of dollars into 21 year olds pockets for 4 years and then clowning them for going broke while we are 35+ and did the dumbest shyt matured and are finally making good income

Facts. Most people in the same situation would also end up going broke.

 

[lib123]

NBA money longer than NFL money but I largely agree with you. It's not just baby mamas/children, it's the spending in general. When you retire your income goes to zero unless you have investments. A lot of these guys are too stupid to just put a bunch of money in an index fund and don't touch it for 20+ years. By the time they try multiple money flipping schemes, fund multiple bad business ideas from their family/friends/etc, buy multiple homes in tax heavy locations (NY, LA) etc they're on the path to being broke. The out of wedlock children are icing on the cake at that point.

End of the day I don't think these guys care. Once again, chaos and disorder. They have the money now so it must be spent. Whatever happens 10+ years from now is irrelevant to them. All the financial classes and good/trustworthy advisors can't fix this. The bed was made at a very young age and it's not gonna get fixed.

I’m sure some do put money in index funds or stable investments. The thing is they don’t put enough away to maintain lifestyle after the NFL or NBA checks stop. After taxes, agents, accountants, lawyers, players association fees, escrow, etc they’re netting about 40% of their contract. They need to be saving and investing 70-80% of their income to maintain lifestyle after retirement. Even if they put 10-20% in index funds they’re still not going to be able to maintain lifestyle after retiring.